BECKENHAM, England, May 18 /PRNewswire-FirstCall/ -- True Health, Inc. (BULLETIN BOARD: TRHL) , a leader in healthcare recruitment and pressure relieving systems, today announced record revenues for its 2003 fiscal year ended January 31, 2004. While revenue growth was primarily driven by the Company’s medical recruitment business, True Health also experienced robust growth in its medical equipment division as well.
Revenues for the fiscal year ended January 31, 2004 grew by 287% to $3,992,004, as compared to $1,031,889 in the prior fiscal year. Revenue composition included $2,662,524 from the Company’s medical recruitment business, a sharp ten-fold increase over recruitment revenues of $233,632 in the prior fiscal year ended January 31, 2003. True Health launched its recruitment business in August of 2002. The Company’s pressure relief equipment business grew by 70% in the fiscal year ended January 31, 2004 to $1,295,347 from $762,889 in the prior fiscal year.
True Health CEO, Mr. David Francis commented on the Company’s results, “I am delighted to announce such a significant increase in our revenues. It reflects the hard work and commitment of all our employees who have performed exceptionally well throughout the year. I would like to thank them all. We hope to maintain our growth and are investing in our people and systems to ensure continued expansion.”
“We have made significant required investments in our IT infrastructure, logistical operations, management team and Board in order to create a platform for growth. With this foundation in place, we believe that we are well prepared for further future expansion,” added Mr. Francis.
About True Health, Inc.
True Health, through its wholly owned subsidiary, Westmeria Healthcare Limited, http://www.westmeria.com/, is a full service specialist, medical equipment and medical professional supplier to the healthcare industry. Its primary clients are Great Britain’s National Health Service (NHS) and the private Nursing Home Industry. True Health delivers recruitment services to the NHS; specializing in the provision of locum radiographers and nurses. Its core business is supplying proprietary branded specialist pressure relieving equipment for the healthcare sector. The branded products are manufactured and licensed for the company in Germany, Belgium and Taiwan.
Contact: Ms. Laurel Moody, Sky Investor Relations, 212-440-5000 or laurel@skyir.com
The statements contained in this news release that are not historical facts may be statements regarding the Company’s future that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe the Company’s hopes, plans, objectives, goals, intentions or expectations are all forward looking statements. Any such statements made herein about the Company’s future are only made as of the date of this news release. Numerous factors, many of which are beyond the Company’s control, may affect actual results. The Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
True Health, Inc.
CONTACT: Ms. Laurel Moody of Sky Investor Relations, +1-212-440-5000,laurel@skyir.com, for True Health, Inc.
Web site: http://www.westmeria.com/
